Cost of Living in Ranburne, AL

With a cost of living index of 78, Ranburne, AL is a very affordable place to live. Living here is 22% cheaper than the national average and 4% above the Alabama state average of 74. Ranburne is a small community of 524 residents.

Housing costs are the biggest factor in Ranburne's cost of living. The median monthly rent is $910 (31% below the US median of $1,319), and the median home value sits at $229,800 (25% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ranburne is $73,750, which is 2% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Ranburne. The area sees an average annual temperature of 63.1°F, with summers averaging 79°F and winters around 46°F. Annual rainfall totals 52.1 inches spread over roughly 119 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.